It's All About You !

It's All About You !
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Sunday, 14 August 2011

baby steps guide to saving.

Iread this article today on my own journey of trying to save a few pennies and i found it made perfect sense, check it out .

Stop Spending!

Saving is not easy. We live in this crazy consumer-driven-gotta-have-it society, where the latest gadget/gizmo/car/movie/fashion/toy is constantly being promoted, and we are made to feel like we’re missing out if we don’t have the latest or the best. The sheer quantity of stuff available to to purchase at any given time is pretty much a bottomless pit. There is always more, more more!

So what’s a girl (or boy) to do?

Well, it’s pretty simple really: Stop. Buying. Stuff.

At least in theory it is simple.

In practice, it is sooooo much harder.

Our reasons for spending money on stuff we don’t need are plentiful and varied. It makes us feel good. We want to look better. We want our house to be pretty. We want what everyone else has. It’s fun. We’re bored. We’re lonely. We want people to like us better. We want to be “ahead of the curve.” We’re tech junkies. We can’t pass up a “good deal.” We think we might need it someday. The sales pitch worked. We’re stressed. We’re trying to fill a void. It was on sale. We’re addicted to [Starbucks, tobacco, scrapbooking, shoes, video games, books, etc. etc.]

Sound familiar?

The truth is that whatever the reason, much of what we spend our money on is unnecessary, a want rather than a need. I need to eat, but I want to drink my Keurig K-Cups coffee every day. I need to wear shoes, but I want to have dozens of pairs in every color and style imaginable. It is so very important to realize the distinction between what we think we need and what we actually need.

It is the first critical step on the path to savings.

Don’t get me wrong, I’m not saying you should never spend money on anything, and live an austere (and boring) life void of pretty things entertainment or yummy coffee drinks. Don’t forget, the title of this blog is Living WELL Spending Less.

But for the sake of this series, we are going to start by curbing all spending so that down the road we can figure out how to get those things we want in a way that fits our budget.
Which brings me to this week’s assignment:

(Any guesses?)
1. Stop spending!

Try to go seven days in a row without spending money on anything except what is absolutely necessary, as in matter-of-survival necessary. No clothes, no candy, no quick stops at McDonalds, no craft supplies, no nothing. Don’t worry, it’s only a week. You won’t die. I promise.
2. Make a list of wants and needs

Spend it reflecting on all the things you spend money on in a months time, and divide those things into a “needs” list (i.e. I need to pay rent, buy food, make my car payment, etc.) and a “wants” list (cable TV, designer jeans, Starbucks, etc.) Don’t just make a mental list. Sit down and physically write down every single thing you can think of that you spend money on, from the mundane to the major.
3. Get inspired

4. Find new (free) ways to fill your time

Think long and hard about the reasons you spend money frivelously. If you are using shopping as a way to fill a void in your life then you need to seriously explore other hobbies that don’t cost anything. Go to the library and check out some new books, make it your mission to explore every park in a 20 mile radius, set a goal of organizing every closet and cupboard in your house by the end of the summer, or better yet, start a blog. (That last one is what worked for me!)

I think the thing that surprised me the most when I stopped spending money out of boredom was how much more creative I became. The world is full of free activities. You just have to look a little harder.

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